The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-10-29
CONDITION OF THE MARKETS
Indications that Wheat Is Slowly but
Very Surely Recovering Strength.
Corn Quiet, Under Moderate Trading-0ats
Steady and Strong-Pork Active, with
Steady Advance During the Session.


"Bearn Influences Predominant in New York,
and Lower Prices Prevail.
NEW YORK, Oct 28.-Money on call was
easy ct 81 to per cent, the last loan being
made at g. closing offered at g.
Prime mercantile paper. Gas per cent
Sterling exchange was dull but firm at 81 61s
for sixty bills, and 81 854 for demand.
The total sales of stocks to-day were $40. 725
shares. including the following: Delaware.
Lackavauna & Western, $500; Erie, 11,0l5;
Kansas g. Texas 1O,5o5; Lake Shore, 1880;
Louisville & Nashville. 12,445; Missouri Pa
eifc, 1885; Northwestern. IL, ITO; Reading,
LOG, 47O; ST. Paul, &C. $50; Union Pacific, a. $50;
Western Union, co. 7S5.
The stock market to-day was moderately act
i've, out while displaying some strength in the
forenoon, was weak in the latter part Of the day
and the lowest prices were made at or near the
close. There some foreign buying early IN
the day. which did much TO give the list the hrm
tone existing at that time. but the bears" were
again aggressive and attacked the Gould stocks
in force, the reiteration OF the reorganization
story having decided effect. The pressure to
sell became heavy as the day advanced. and a
report that the Ches apeake 81 Ohio would be
placed In the hands of a receiver. with the in
creased demand for money at advancing rates.
helped the market down. The Kansas 81 Texas
story denied by the officials, but the
street has the impression that the
Missouri Pacific. The buying of Reading was
u feature of the day. and its total transactions
were once more very heavy, Notwithstanding
which its fluctuations were comparatively small.
The grangers were next TO the Gould stocks In
importance and were specially weak in the aft
Brnoon. The Pacific and Oregon stocks, how
ever made larger net declines on much smaller
business. Western Union was very sluggish
after the announcement OF last evening, and
gave way with the remainder late in the day.
The opening quiet but strong at advanced
over last evenings final figures OF from 3 to
per cent, but the Improvement was not
maintained ard prices declined in the early
trading though the losses were quickly made
up Considerable feverishness marked the
dealings throughout the forenoon, and the gem
eral tendency toward lower prices. Decided
sas & Texas, Missouri Pacific and the grangers
became the leaders in the decline. The down
ward movement was not checked until the close.
which was weak at the lowest prices OF
the day. Final prices almost invariably
lower and Kansas & Texas is down q: Man
haitian 2: Oregon Navigation. II; Pacific Mail
and Union Pacific, II. and Northern Pacific 1
per cent.
Railroad bonds were little more active. due
to the heavy selling of the Kansas Texas IS
sues The SKIES contributed 1888. 600 and the
fives 500, 900. out of total days business OF
81 1873. 900. Prices were somewhat irregular,
and Kansas & Texas skies lost 49, at 1Ss; the
fives 81, at 7O4: the seveps g. at log: Chesapeake
& Ohio currency, 2, at 10. and Richmond 81
Danville consols 2 at 113 Baltimore d Ohio
fives rose 2, TO l05; Northern Pacific terminals,
q, to 1Ol; Texas Pacific terminal trust receipts.
A. to COL. and Wabash convertIbles, z. to 81.
Government bonds were dull but firm.
State bonds were very dull and steady. Clos
tn0